Also. . .

* Most major U.S. airlines followed the lead of Trans World Airlines Inc. and set lower fares for winter and spring travel as carriers look to fill seats in anticipation of a post-holiday lull. UAL Corp.’s United Airlines said it is lowering fares by as much as 30% below standard 21-day advance-purchase fares for both domestic and international flights. Other airlines are offering similar fares for travel through mid-January.

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* CBS Corp. has formed a new division to manage its diverse portfolio of Internet properties, and it named an executive from Richard Branson’s Virgin Group to head it. Russ Pillar, 34, will serve as president and chief executive of CBS Internet Group, the company said. Pillar had been in charge of Virgin’s music sales and Internet operations in North America. Before that, he led a turnaround of the online service provider Prodigy. Pillar will report to CBS Chief Financial Officer Fred Reynolds. CBS, which is in the process of merging with MTV owner Viacom Inc., had been one of the few major media companies without a separate division or specific executive devoted to directing overall Internet strategy and operations.